Setting up a limited company

Limited (or Ltd, both the same thing) Company is an entity through which you can trade with your business. New or old, large or small, Limited companies are for anyone. We hear often ‘I’m not yet big enough for a Limited Company’, it’s a common misconception, there is no minimum turnover or date by which you must start trading.

Trading through your limited company is a safer way to trade as the liability is limited to the share value. If anything should go wrong, you and your personal assets are protected. Any trade done through the company is the company’s liability, not yours. If you are trading as a sole trader however, the liability is all on you. This makes a Ltd Company a great option for new startups.

profit making Ltd Company (technically known as a company limited by shares) can be registered by in just a few hours. The company will then be public information on the register of companies, held by Companies House in Cardiff. We are agents approved by Companies House The information you need to provide us when registering is below. If you need any further explainantion on below, please go to 'help' in the top right of every page.

Check List

Company Name

This can be anything you like, however there are a few rules. It has to be unique, you cannot have two names the same on the public register. There are certain words that require a little extra info or permission, you can’t use anything rude, sweary or obscene and it has to end with ‘Limited’ or 'Ltd'. Run an idea by us first, we’ll tell you if you can use it and help you with an alternative.

Registered Office

This has to be in the UK and not a PO Box.We will need:
Full postal address including Post Code and Country

Company Director/s

Every company must appoint at least one Director. The Director/s make decisions for the company, in the company’s best interest. You have to have one but can have as many as you like.We will need for each director:
Full name (as it is on your passport)
Date of Birth
Nationality
Home address
Public address

Shares

The company must be started with a number of shares and nominated share value. This gives the company a nominal starting value until trading starts. Once the company starts trading the value of the company will increase in relation to the turnover.
We will need:
Number of shares (we recommend 100)
Value of each share (we recommend £1 each)

Shareholders

Shareholders are allotted shares proportionate to their ownership. For example, if there is one owner then they will own all the shares, making them 100% shareholder (and owner). They can be split anyway you like to balance ownership. 60/40, 25/75, 50/50. Therefore, with the number of shares you start with, we recommend you start with a round number, large enough to cope with the distribution you intend.We will need for each shareholder:
Full name
Public address
Number of shares to allocate them.